Gold futures fall Rs 245 to Rs 40,434 per 10 gm

Gold prices on Tuesday fell by Rs 245 to Rs 40,434 per 10 grams in futures trade as participants cut down their positions in line with a weak trend overseas.

On the Multi Commodity Exchange, gold prices for April delivery fell by Rs 245, or 0.60 per cent, to Rs 40,434 per 10 gram in a business turnover of 1,425 lots.

The yellow metal for June delivery declined by Rs 257, or 0.63 per cent, to Rs 40,590 per 10 gram in 82 lots.

Analysts said subdued overseas cues influenced sentiment here. Globally, gold was trading 0.51 per cent lower at $1,571.40 per ounce in New York.